Meats Futures Prices
- Hog Prices Sharply Higher 2nd Day In A Row
Stop has been lowered
- Weather Forecast Sets Off Short Covering
Grain markets are mixed as trader wait for the forecast to develop. Farmers are using the current dry conditions to plant all that is possible.
- Hams Experience Largest Drawdown in Over Twenty Years
Total pork is down 10% from last year.
- Planting Advances as Midwest Rains Loom
Grain markets are lower as US farmers rush to plant their crops ahead of the coming rains. Outside markets await new news on tensions with North Korea,...
- US Export Door Opens With Weak Dollar
Grain markets are higher, supported by a weaker US Dollar and last week’s sell-off of 14 cents in corn and 24 cents in wheat. French election results...
- Trade Spotlight: Spreads (Live Cattle)
The Trade Spotlight service provides trading education while identifying commodity trading opportunities from chart formation breakouts with confirmation...
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Live cattle futures traded 82.5 cents to $1.125 higher on Tuesday. Feeder Cattle futures were 22.5 to 97.5 cents in the green. The CME feeder cattle index was at $139.31 on 4/24, down 10 cents from the previous day. Wholesale beef prices were higher in the afternoon report. Choice boxes averaged $219.01, up 34 cents, with select gaining $1.98 with an average price of $206.27. Ahead of today’s Fed Cattle Exchange auction, show lists have 5,448 head of cattle listed with 86.58% from NE. Estimated FI cattle slaughter was 231,000 head through Tuesday, up 7,000 from a week ago and the same Tuesday in 2016.
Lean hog futures finished the day 70 cents to $2.45 higher on Tuesday. The CME Lean Hog Index for 4/21 was down another 61 cents to $60.49.The USDA pork carcass value was down 67 cents in the afternoon FOB Plant report, with an average of $73.82. The loin and picnic cuts were reported lower, with the belly down $4.73. National cash hog base prices averaged 22 cents higher in the afternoon report, with a weighted average of $53.67 and a range reported from $49.00-$55.00. The WCB region was 8 cents higher, with IA/MN down 2 cents. Week to date FI hog slaughter was estimated at 881,000 head for Tuesday, 27,000 head larger than the same week in 2016.